Importance of Public Records
In Estate of Maniglia v. Commissioner, T.C. Memo. 2005-247, the court found that the decedent, as the sole beneficiary of a trust, was the sole owner of a real estate interest, rather than a 50% owner as claimed.
The key evidence upon which the court relied was various documents filed in the real property records. Consequently, the entire value of the property was included in the decedent’s gross estate.
Special thanks to Dave L. Cornfeld for bringing this case to my attention.
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Estate Tax and New Cases